Fleet Evolution has struck a deal to provide electric cars to customers of ICR Leasing through its salary sacrifice car scheme framework.

ICR Leasing, which has a risk fleet of around 600 cars and vans, was formed from the sale of the Wayside dealer group in 2011 and as such is fully self-funded.

It sees salary sacrifice as a new growth opportunity, partially because of low benefit-in-kind (BIK) tax rates that electric vehicles (EVs).

Chancellor Jeremy Hunt confirmed at the recent Autumn Statement that BIK tax rates for electric cars will go up from the current 2% to 3% in 2025/26, to 4% in 2067/27 and to 5% in the year 2027/28. 

“It is this low tax regime which has made electric cars so attractive to employees, especially if provided through a salary sacrifice car scheme,” said Thomas Ryan (pictured), senior business manager at ICR Leasing.

“However, we currently had nothing in our product portfolio to offer to our customers to allow them and their employees to take advantage of this advantageous tax regime.”

He continued: “This is our first foray into the salary sacrifice market and Fleet Evolution is the perfect partner for us as they have a very similar ethos to ourselves, are very flexible in their approach and very customer focused – all attributes we fully identify with.”

Will Chapman (pictured), joint senior business manager at ICR, added: “As well as UK-based customers, this partnership will allow us to offer salary sacrifice vehicles for use here to customers that are based outside the UK with little or no financial footprint in the UK.

“We will also be able to provide flexible funding to Fleet Evolution to allow it to reach a wider range of potential customers.”

Fleet Evolution account handlers will manage all administration - everything from fines to employee recharges.

Andrew Leech, founder and managing director of Fleet Evolution, said: “We are delighted to be working with ICR Leasing to make salary sacrifice more widely available to its customer base.  

“Electric cars provided through a salary sacrifice scheme are a very attractive proposition – and not just for tax reasons.

“For businesses and staff that want to keep mobility costs under control at a time of rapidly spiralling costs, EVs can deliver financial cost savings in the region of 35-40% over conventional ICE models.

“And, from a well-being point of view, such an electric car salsac scheme can also help tackle the anxiety and emotional stress caused by the prospect of living costs spiralling out of control during the current turbulent economic conditions.”